Spotify Technology S.A. (NYSE:SPOT) Shares Bought by Ballentine Partners LLC

Ballentine Partners LLC lifted its position in shares of Spotify Technology S.A. (NYSE:SPOT) by 45.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 944 shares of the company’s stock after purchasing an additional 295 shares during the period. Ballentine Partners LLC’s holdings in Spotify Technology were worth $422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Aigen Investment Management LP lifted its holdings in Spotify Technology by 42.4% in the 3rd quarter. Aigen Investment Management LP now owns 9,800 shares of the company’s stock worth $3,612,000 after buying an additional 2,918 shares in the last quarter. Pathway Capital Management LP boosted its holdings in Spotify Technology by 23.8% in the third quarter. Pathway Capital Management LP now owns 57,340 shares of the company’s stock valued at $21,132,000 after purchasing an additional 11,042 shares during the last quarter. Perpetual Ltd grew its stake in Spotify Technology by 24.3% during the 3rd quarter. Perpetual Ltd now owns 759,681 shares of the company’s stock valued at $279,965,000 after purchasing an additional 148,431 shares in the last quarter. Covenant Asset Management LLC purchased a new stake in Spotify Technology during the 3rd quarter worth approximately $3,364,000. Finally, Jag Capital Management LLC acquired a new position in shares of Spotify Technology in the 3rd quarter valued at approximately $13,569,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Spotify Technology Trading Up 1.5 %

SPOT stock opened at $500.85 on Friday. The firm’s 50-day moving average is $472.22 and its two-hundred day moving average is $393.55. The company has a market capitalization of $99.69 billion, a price-to-earnings ratio of 136.10 and a beta of 1.62. Spotify Technology S.A. has a 52 week low of $209.18 and a 52 week high of $510.84.

Spotify Technology (NYSE:SPOT) last announced its earnings results on Tuesday, November 12th. The company reported $1.45 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.30). Spotify Technology had a return on equity of 19.07% and a net margin of 4.66%. The firm had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $4.03 billion. During the same period in the previous year, the firm earned $0.36 EPS. Spotify Technology’s revenue for the quarter was up 18.8% on a year-over-year basis. On average, equities research analysts predict that Spotify Technology S.A. will post 5.91 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SPOT. Cantor Fitzgerald restated a “neutral” rating and issued a $340.00 price target on shares of Spotify Technology in a research note on Monday, October 7th. TD Cowen boosted their target price on shares of Spotify Technology from $356.00 to $416.00 and gave the stock a “hold” rating in a research report on Wednesday, November 13th. Piper Sandler increased their price target on shares of Spotify Technology from $330.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Phillip Securities reissued an “accumulate” rating and issued a $485.00 price objective (up from $420.00) on shares of Spotify Technology in a report on Wednesday, November 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Spotify Technology from $430.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Spotify Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $441.21.

Spotify Technology Profile

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.